This week, the friction between China and the United States escalated further:
each claimed to have detected balloons in the airspace of the other,
the U.S. aircraft carrier sailed into the South China Sea for military exercises,
and China and Iran signed a deep cooperation agreement…
all adding a layer of gloom to the already fragile relationship between China and the United States.
At this time, the market was also greatly disturbed, with some news, either true or false, often followed by sharp rallies and falls in the market.
The biopharmaceutical sector is in turmoil, with funds rotating within the sector.
CXO has been the most constrained sector in the pharmaceutical sector due to the Sino-US relationship. Because nearly half of its business revenue comes from the U.S. mainland, coupled with its biotechnology is a sensitive industry due to health and safety reasons, the market is worried that the deterioration of U.S.-China relations will lead to an uncertain future for this part of the business. In the past year, even the UVL review, which is a routine event, was not conducted smoothly due to the political sensitivity between the U.S. and China, resulting in a significant evaporation of market value.
Translated with www.DeepL.com/Translator (free version)
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